Company News
"We are very pleased to deliver better-than-expected financial results, and we are especially encouraged by the strong growth in our advertising revenues," stated Mr.
The unique value proposition offered by our programmatic advertising platform combined with our brand advertising solution enabled us to generate higher-than-expected revenues in the fourth quarter of 2017. While we continue to enhance our existing products, we are also actively developing new products to cultivate future growth engines. During the quarter, we launched Zhizhi, a new Paid Knowledge Sharing product that takes our news app to a more versatile level. In addition, we broadened the content categories of our digital reading business by adding two of the most popular genres with our younger target demographic: chat stories and comics. Going forward, we are confident that our brand equity, credibility, professionalism, and synergies between our business segments will enable us to garner additional market share and solidify our industry-leading position."
Ms.
Fourth Quarter 2017 Financial Results
REVENUES
Total revenues for the fourth quarter of 2017 increased by 12.1% to
Net advertising revenues (net of advertising agency service fees) for the fourth quarter of 2017 increased by 16.3% to
Paid services revenues[1] for the fourth quarter of 2017 decreased by 12.7% to
[1] Prior to 2016, the Company's paid services revenues comprised mainly of revenues generated from MVAS and games and others. Digital reading was previously classified under "games and others." In order to align with the Company's overall strategies, digital reading was re-classified from "games and others", and digital reading together with MVAS was determined as "digital entertainment" starting from the financial statements as of and for the year ended December 31, 2016. Accordingly, the revenues from digital entertainment and the revenues from games and others for the four quarters of 2016 have been reclassified. |
[2] Digital entertainment includes mobile value-added services delivered through telecom operators' platforms, or MVAS, and digital reading. |
[3] Games and others include web-based and mobile games, and other online and mobile paid services through the Company's own platforms. |
COST OF REVENUES
Cost of revenues for the fourth quarter of 2017 increased by 1.7% to
- Content and operational costs for the fourth quarter of 2017 increased to
RMB143.6 million (US$22.1 million ) fromRMB138.6 million in the fourth quarter of 2016, primarily attributable to an increase in advertisement-related content production cost. - Revenue sharing fees to telecom operators and channel partners for the fourth quarter of 2017 decreased to
RMB12.4 million (US$1.9 million ) fromRMB17.3 million in the fourth quarter of 2016, primarily attributable to a decrease in the sales of MVAS products. - Bandwidth costs for the fourth quarter of 2017 decreased to
RMB12.8 million (US$2.0 million ) fromRMB15.2 million in the fourth quarter of 2016, primarily due to the decrease in bandwidth purchase costs as a result of intense competition. - Sales taxes and surcharges for the fourth quarter of 2017 increased to
RMB39.9 million (US$6.1 million ) fromRMB34.1 million in the fourth quarter of 2016. - Share-based compensation included in cost of revenues was
RMB1.2 million (US$0.2 million ) in the fourth quarter of 2017 as compared to negativeRMB0.9 million in the fourth quarter of 2016 resulting from the increase in estimated forfeiture rate of share-based awards based on the actual forfeiture rate in the quarter.
GROSS PROFIT
Gross profit for the fourth quarter of 2017 increased by 22.5% to
To supplement the financial measures presented in accordance with the United States Generally Accepted Accounting Principles ("GAAP"), the Company has presented certain non-GAAP financial measures in this press release, which excluded the impact of certain reconciling items as stated in the "Use of Non-GAAP Financial Measures" section below. The related reconciliations to GAAP financial measures are presented in the accompanying "Reconciliations of Non-GAAP Results of Operation Measures to the Nearest Comparable GAAP Measures."
Non-GAAP gross margin for the fourth quarter of 2017, which excluded share-based compensation, increased to 55.1% from 49.9% in the fourth quarter of 2016.
OPERATING EXPENSES AND INCOME/(LOSS) FROM OPERATIONS
Total operating expenses for the fourth quarter of 2017 increased by 39.6% to
Loss from operations for the fourth quarter of 2017 was
Non-GAAP loss from operations for the fourth quarter of 2017, which excluded share-based compensation, was
OTHER INCOME/(LOSS)
Other income/(loss) reflects interest income, interest expense, foreign currency exchange gain/(loss), gain/(loss) from equity investments, including impairments, and others, net[4]. Total other income for the fourth quarter of 2017 was
- Interest income for the fourth quarter of 2017 increased to
RMB13.2 million (US$2.0 million ) fromRMB10.8 million in the fourth quarter of 2016, which was mainly due to the increase of interest bearing investments and receivables in the fourth quarter of 2017 as compared to that of 2016. - Interest expense for the fourth quarter of 2017 decreased slightly to
RMB3.7 million (US$0.6 million ) fromRMB3.8 million in the fourth quarter of 2016. - Foreign currency exchange loss for the fourth quarter of 2017 was
RMB4.5 million (US$0.7 million ) as compared to foreign currency exchange gain ofRMB8.5 million in the fourth quarter of 2016, which was mainly caused by the appreciation of Renminbi against US dollars in the fourth quarter of 2017. - Gain from equity investments for the fourth quarter of 2017, including impairments, was
RMB4.9 million (US$0.7 million ) as compared to loss from equity investments ofRMB0.03 million in the fourth quarter of 2016. - Others, net, for the fourth quarter of 2017 decreased to
RMB10.0 million (US$1.5 million ) fromRMB11.6 million in the fourth quarter of 2016, which was primarily attributable to the decrease of the government subsidies received in the fourth quarter of 2017 as compared to that of 2016.
NET INCOME ATTRIBUTABLE TO PHOENIX NEW MEDIA LIMITED
Net income attributable to
Non-GAAP net income attributable to
For the fourth quarter of 2017, the Company's weighted average number of ADSs used in the computation of diluted net income per ADS was 73,896,840. As of
[4] "Others, net" primarily consists of government subsidies. |
[5] "ADS" means American Depositary Share of the Company. Each ADS represents eight Class A ordinary shares of the Company. |
CERTAIN BALANCE SHEET ITEMS
As of
Fiscal Year 2017 Financial Results
REVENUES
Total revenues for fiscal year 2017 increased by 9.0% to
Net advertising revenues (net of advertising agency service fees) for fiscal year 2017 increased by 9.8% to
Paid service revenues for fiscal year 2017 increased by 4.2% to
COST OF REVENUES AND GROSS PROFIT
Cost of revenues for fiscal year 2017 increased slightly to
Gross profit for fiscal year 2017 increased to
OPERATING EXPENSES AND INCOME FROM OPERATIONS
Total operating expenses for fiscal year 2017 increased to
Income from operations for fiscal year 2017 was
Non-GAAP income from operations, which excluded share-based compensation, for fiscal year 2017 decreased by 3.8% to
NET INCOME ATTRIBUTABLE TO PHOENIX NEW MEDIA LIMITED
Net income attributable to
Non-GAAP net income attributable to
Business Outlook
Accounting Standard Update - Revenue From Contracts With Customers (Topic 606), or ASC 606, will become effective for the Company's reporting periods starting from
Conference Call Information
The Company will hold a conference call at
To participate in the call, please use the dial-in numbers and conference ID below:
International: |
+6567135440 |
Mainland China: |
4001200654 |
Hong Kong: |
+85230186776 |
United States: |
+18456750438 |
Conference ID: |
7295147 |
A replay of the call will be available through
International: |
+61290034211 |
Mainland China: |
4006322162 |
Hong Kong: |
+85230512780 |
United States: |
+16462543697 |
Conference ID: |
7295147 |
A live and archived webcast of the conference call will also be available at the Company's investor relations website at http://ir.ifeng.com.
Use of Non-GAAP Financial Measures
To supplement the consolidated financial statements presented in accordance with the United States Generally Accepted Accounting Principles ("GAAP"),
Exchange Rate
This announcement contains translations of certain RMB amounts into U.S. dollars ("USD") at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from RMB to USD were made at the rate of
About Phoenix New Media Limited
Safe Harbor Statement
This announcement contains forward−looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward−looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the business outlook and quotations from management in this announcement, as well as
For investor and media inquiries please contact:
Email: investorrelations@ifeng.com
Rose Zu
Tel: +1 (646) 405-4883
Email: investorrelations@ifeng.com
Phoenix New Media Limited |
|||||
Condensed Consolidated Balance Sheets |
|||||
(Amounts in thousands) |
|||||
December 31, |
December 31, |
December 31, |
|||
2016 |
2017 |
2017 |
|||
RMB |
RMB |
US$ |
|||
Audited* |
Unaudited |
Unaudited |
|||
ASSETS |
|||||
Current assets: |
|||||
Cash and cash equivalents |
202,694 |
362,862 |
55,771 |
||
Term deposits and short term investments |
781,298 |
737,657 |
113,376 |
||
Restricted cash |
354,602 |
336,700 |
51,750 |
||
Accounts receivable, net |
405,033 |
458,744 |
70,508 |
||
Amounts due from related parties |
156,260 |
187,214 |
28,774 |
||
Prepayment and other current assets |
64,069 |
57,458 |
8,831 |
||
Convertible debts from a related party |
104,429 |
102,631 |
15,774 |
||
Total current assets |
2,068,385 |
2,243,266 |
344,784 |
||
Non-current assets: |
|||||
Property and equipment, net |
72,087 |
64,454 |
9,906 |
||
Intangible assets, net |
9,475 |
6,712 |
1,032 |
||
Available-for-sale investments |
939,432 |
1,196,330 |
183,873 |
||
Equity investments, net |
8,809 |
15,342 |
2,358 |
||
Deferred tax assets** |
54,307 |
60,460 |
9,293 |
||
Other non-current assets |
16,047 |
12,544 |
1,927 |
||
Total non-current assets |
1,100,157 |
1,355,842 |
208,389 |
||
Total assets |
3,168,542 |
3,599,108 |
553,173 |
||
LIABILITIES AND SHAREHOLDERS' EQUITY |
|||||
Current liabilities: |
|||||
Short-term loans |
358,602 |
330,000 |
50,720 |
||
Accounts payable |
260,902 |
262,657 |
40,371 |
||
Amounts due to related parties |
18,720 |
14,140 |
2,173 |
||
Advances from customers |
27,825 |
65,196 |
10,020 |
||
Taxes payable |
75,652 |
92,214 |
14,173 |
||
Salary and welfare payable |
130,329 |
134,471 |
20,668 |
||
Accrued expenses and other current liabilities |
111,049 |
173,253 |
26,628 |
||
Total current liabilities |
983,079 |
1,071,931 |
164,753 |
||
Non-current liabilities: |
|||||
Deferred tax liabilities |
1,312 |
1,312 |
202 |
||
Long-term liabilities |
21,723 |
24,714 |
3,798 |
||
Total non-current liabilities |
23,035 |
26,026 |
4,000 |
||
Total liabilities |
1,006,114 |
1,097,957 |
168,753 |
||
Shareholders' equity: |
|||||
Phoenix New Media Limited shareholders' equity: |
|||||
Class A ordinary shares |
16,843 |
17,180 |
2,641 |
||
Class B ordinary shares |
22,053 |
22,053 |
3,389 |
||
Additional paid-in capital |
1,555,511 |
1,587,575 |
244,006 |
||
Statutory reserves |
77,946 |
81,237 |
12,486 |
||
Retained earnings |
195,069 |
229,250 |
35,235 |
||
Accumulated other comprehensive income |
298,346 |
570,244 |
87,645 |
||
Total Phoenix New Media Limited shareholders' equity |
2,165,768 |
2,507,539 |
385,402 |
||
Noncontrolling interests |
(3,340) |
(6,388) |
(982) |
||
Total shareholders' equity |
2,162,428 |
2,501,151 |
384,420 |
||
Total liabilities and shareholders' equity |
3,168,542 |
3,599,108 |
553,173 |
||
* Derived from audited financial statements included in the Company's Form 20-F dated April 28, 2017. |
|||||
**In 2017, the Company adopted the guidance of ASU 2015-17 issued by FASB in November 2015, which requires entities |
Phoenix New Media Limited |
|||||||||||||
Condensed Consolidated Statements of Comprehensive Income |
|||||||||||||
(Amounts in thousands, except for number of shares and per share (or ADS) data) |
|||||||||||||
Three Months Ended |
Twelve Months Ended |
||||||||||||
December 31, |
September 30, |
December 31, |
December 31, |
December 31, |
December 31, |
December 31, |
|||||||
2016 |
2017 |
2017 |
2017 |
2016 |
2017 |
2017 |
|||||||
RMB |
RMB |
RMB |
US$ |
RMB |
RMB |
US$ |
|||||||
Unaudited |
Unaudited |
Unaudited |
Unaudited |
Audited* |
Unaudited |
Unaudited |
|||||||
Revenues: |
|||||||||||||
Net advertising revenues |
353,158 |
363,124 |
410,547 |
63,100 |
1,232,210 |
1,353,480 |
208,026 |
||||||
Paid service revenues |
58,724 |
62,436 |
51,240 |
7,875 |
212,697 |
221,612 |
34,061 |
||||||
Total revenues |
411,882 |
425,560 |
461,787 |
70,975 |
1,444,907 |
1,575,092 |
242,087 |
||||||
Cost of revenues |
(205,204) |
(188,185) |
(208,679) |
(32,073) |
(726,807) |
(727,197) |
(111,768) |
||||||
Gross profit |
206,678 |
237,375 |
253,108 |
38,902 |
718,100 |
847,895 |
130,319 |
||||||
Operating expenses: |
|||||||||||||
Sales and marketing expenses |
(102,386) |
(122,843) |
(156,590) |
(24,067) |
(339,171) |
(493,664) |
(75,875) |
||||||
General and administrative expenses |
(41,150) |
(28,650) |
(50,457) |
(7,755) |
(181,677) |
(146,923) |
(22,582) |
||||||
Technology and product development expenses |
(41,692) |
(50,412) |
(51,494) |
(7,914) |
(161,880) |
(192,325) |
(29,560) |
||||||
Total operating expenses |
(185,228) |
(201,905) |
(258,541) |
(39,736) |
(682,728) |
(832,912) |
(128,017) |
||||||
Income/(loss) from operations |
21,450 |
35,470 |
(5,433) |
(834) |
35,372 |
14,983 |
2,302 |
||||||
Other income/(loss): |
|||||||||||||
Interest income |
10,785 |
14,922 |
13,213 |
2,031 |
35,113 |
54,286 |
8,344 |
||||||
Interest expenses |
(3,778) |
(5,700) |
(3,746) |
(576) |
(7,061) |
(22,221) |
(3,415) |
||||||
Foreign currency exchange gain/(loss) |
8,486 |
(8,878) |
(4,481) |
(689) |
9,608 |
(23,560) |
(3,621) |
||||||
(Loss)/gain from equity investments, including |
(29) |
968 |
4,865 |
748 |
(1,776) |
6,296 |
968 |
||||||
Others, net |
11,606 |
4,893 |
10,037 |
1,543 |
21,053 |
19,423 |
2,985 |
||||||
Income before tax |
48,520 |
41,675 |
14,455 |
2,223 |
92,309 |
49,207 |
7,563 |
||||||
Income tax expense |
(9,253) |
(9,615) |
(3,294) |
(506) |
(14,089) |
(14,783) |
(2,272) |
||||||
Net income |
39,267 |
32,060 |
11,161 |
1,717 |
78,220 |
34,424 |
5,291 |
||||||
Net loss attributable to noncontrolling interests |
512 |
834 |
660 |
101 |
2,391 |
3,048 |
468 |
||||||
Net income attributable to Phoenix New Media Limited |
39,779 |
32,894 |
11,821 |
1,818 |
80,611 |
37,472 |
5,759 |
||||||
Net income |
39,267 |
32,060 |
11,161 |
1,717 |
78,220 |
34,424 |
5,291 |
||||||
Other comprehensive income, net of tax: fair value |
270,303 |
33,832 |
22,227 |
3,416 |
247,336 |
321,538 |
49,419 |
||||||
Other comprehensive income/(loss), net of tax: foreign |
15,815 |
(18,778) |
(14,609) |
(2,245) |
27,669 |
(49,640) |
(7,630) |
||||||
Comprehensive income |
325,385 |
47,114 |
18,779 |
2,888 |
353,225 |
306,322 |
47,080 |
||||||
Comprehensive loss attributable to noncontrolling |
512 |
834 |
660 |
101 |
2,391 |
3,048 |
468 |
||||||
Comprehensive income attributable to Phoenix New |
325,897 |
47,948 |
19,439 |
2,989 |
355,616 |
309,370 |
47,548 |
||||||
Net income attributable to Phoenix New Media Limited |
39,779 |
32,894 |
11,821 |
1,818 |
80,611 |
37,472 |
5,759 |
||||||
Net income per Class A and Class B ordinary share: |
|||||||||||||
Basic |
0.07 |
0.06 |
0.02 |
0.00 |
0.14 |
0.07 |
0.01 |
||||||
Diluted |
0.07 |
0.06 |
0.02 |
0.00 |
0.14 |
0.06 |
0.01 |
||||||
Net income per ADS (1 ADS represents 8 Class A ordinary |
|||||||||||||
Basic |
0.55 |
0.46 |
0.16 |
0.03 |
1.12 |
0.52 |
0.08 |
||||||
Diluted |
0.55 |
0.46 |
0.16 |
0.02 |
1.12 |
0.51 |
0.08 |
||||||
Weighted average number of Class A and Class B ordinary |
|||||||||||||
Basic |
574,115,251 |
574,372,716 |
576,851,243 |
576,851,243 |
573,521,536 |
574,786,887 |
574,786,887 |
||||||
Diluted |
577,290,719 |
577,816,213 |
591,174,724 |
591,174,724 |
577,037,906 |
590,433,907 |
590,433,907 |
||||||
* Derived from audited financial statements included in the Company's Form 20-F dated April 28, 2017. |
Phoenix New Media Limited |
|||||||||||||
Condensed Segments Information |
|||||||||||||
(Amounts in thousands) |
|||||||||||||
Three Months Ended |
Twelve Months Ended |
||||||||||||
December 31, |
September 30, |
December31, |
December 31, |
December 31, |
December 31, |
December 31, |
|||||||
2016 |
2017 |
2017 |
2017 |
2016 |
2017 |
2017 |
|||||||
RMB |
RMB |
RMB |
US$ |
RMB |
RMB |
US$ |
|||||||
Unaudited |
Unaudited |
Unaudited |
Unaudited |
Audited* |
Unaudited |
Unaudited |
|||||||
Revenues: |
|||||||||||||
Net advertising service |
353,158 |
363,124 |
410,547 |
63,100 |
1,232,210 |
1,353,480 |
208,026 |
||||||
Paid service |
58,724 |
62,436 |
51,240 |
7,875 |
212,697 |
221,612 |
34,061 |
||||||
Total revenues |
411,882 |
425,560 |
461,787 |
70,975 |
1,444,907 |
1,575,092 |
242,087 |
||||||
Cost of revenues |
|||||||||||||
Net advertising service |
174,005 |
149,000 |
181,361 |
27,874 |
598,040 |
602,945 |
92,671 |
||||||
Paid service |
31,199 |
39,185 |
27,318 |
4,199 |
128,767 |
124,252 |
19,097 |
||||||
Total cost of revenues |
205,204 |
188,185 |
208,679 |
32,073 |
726,807 |
727,197 |
111,768 |
||||||
Gross profit |
|||||||||||||
Net advertising service |
179,153 |
214,124 |
229,186 |
35,226 |
634,170 |
750,535 |
115,355 |
||||||
Paid service |
27,525 |
23,251 |
23,922 |
3,676 |
83,930 |
97,360 |
14,964 |
||||||
Total gross profit |
206,678 |
237,375 |
253,108 |
38,902 |
718,100 |
847,895 |
130,319 |
||||||
* Derived from audited financial statements included in the Company's Form 20-F dated April 28, 2017. |
Phoenix New Media Limited |
||||||||||||||
Condensed Information of Cost of Revenues |
||||||||||||||
(Amounts in thousands) |
||||||||||||||
Three Months Ended |
Twelve Months Ended |
|||||||||||||
December 31, |
September 30, |
December 31, |
December 31, |
December 31, |
December 31, |
December 31, |
||||||||
2016 |
2017 |
2017 |
2017 |
2016 |
2017 |
2017 |
||||||||
RMB |
RMB |
RMB |
US$ |
RMB |
RMB |
US$ |
||||||||
Unaudited |
Unaudited |
Unaudited |
Unaudited |
Audited* |
Unaudited |
Unaudited |
||||||||
Revenue sharing fees |
17,340 |
27,891 |
12,350 |
1,898 |
72,027 |
72,613 |
11,160 |
|||||||
Content and operational costs |
138,635 |
110,491 |
143,588 |
22,069 |
470,813 |
466,379 |
71,681 |
|||||||
Bandwidth costs |
15,160 |
14,085 |
12,830 |
1,972 |
64,200 |
55,050 |
8,461 |
|||||||
Sales taxes and surcharges |
34,069 |
35,718 |
39,911 |
6,134 |
119,767 |
133,155 |
20,466 |
|||||||
Total cost of revenues |
205,204 |
188,185 |
208,679 |
32,073 |
726,807 |
727,197 |
111,768 |
|||||||
*Derived from audited financial statements included in the Company's Form 20-F dated April 28, 2017. |
Reconciliations of Non-GAAP Results of Operations Measures to the Nearest Comparable GAAP Measures |
|||||||||||||||||
(Amounts in thousands, except for number of ADSs and per ADS data) |
|||||||||||||||||
Three Months Ended December 31, 2016 |
Three Months Ended September 30, 2017 |
Three Months Ended December 31, 2017 |
|||||||||||||||
Non-GAAP |
Non-GAAP |
Non-GAAP |
|||||||||||||||
GAAP |
Adjustments |
Non-GAAP |
GAAP |
Adjustments |
Non-GAAP |
GAAP |
Adjustments |
Non-GAAP |
|||||||||
RMB |
RMB |
RMB |
RMB |
RMB |
RMB |
RMB |
RMB |
RMB |
|||||||||
Unaudited |
Unaudited |
Unaudited |
Unaudited |
Unaudited |
Unaudited |
Unaudited |
Unaudited |
Unaudited |
|||||||||
Gross profit |
206,678 |
(949) |
(1) |
205,729 |
237,375 |
949 |
(1) |
238,324 |
253,108 |
1,221 |
(1) |
254,329 |
|||||
Gross margin |
50.2% |
49.9% |
55.8% |
56.0% |
54.8% |
55.1% |
|||||||||||
Income/(loss) from |
21,450 |
1,542 |
(1) |
22,992 |
35,470 |
2,450 |
(1) |
37,920 |
(5,433) |
4,677 |
(1) |
(756) |
|||||
Operatingt margin |
5.2% |
5.6% |
8.3% |
8.9% |
(1.2%) |
(0.2%) |
|||||||||||
1,542 |
(1) |
2,450 |
(1) |
4,677 |
(1) |
||||||||||||
29 |
(2) |
(968) |
(2) |
(4,865) |
(2) |
||||||||||||
Net income attributable |
39,779 |
1,571 |
41,350 |
32,894 |
1,482 |
34,376 |
11,821 |
(188) |
11,633 |
||||||||
Net margin |
9.7% |
10.0% |
7.7% |
8.1% |
2.6% |
2.5% |
|||||||||||
Net income per |
0.55 |
0.57 |
0.46 |
0.48 |
0.16 |
0.16 |
|||||||||||
Weighted average number |
72,161,340 |
72,161,340 |
72,227,027 |
72,227,027 |
73,896,840 |
73,896,840 |
|||||||||||
(1) Share-based compensation |
|||||||||||||||||
(2) Loss/(gain) from equity investments, including impairments |
|||||||||||||||||
Non-GAAP to GAAP reconciling items have no income tax effect. |
Reconciliations of Non-GAAP Results of Operations Measures to the Nearest Comparable GAAP Measures |
|||||||||||
(Amounts in thousands, except for number of ADSs and per ADS data) |
|||||||||||
Twelve Months Ended December 31, 2016 |
Twelve Months Ended December 31, 2017 |
||||||||||
Non-GAAP |
Non-GAAP |
||||||||||
GAAP |
Adjustments |
Non-GAAP |
GAAP |
Adjustments |
Non-GAAP |
||||||
RMB |
RMB |
RMB |
RMB |
RMB |
RMB |
||||||
Unaudited |
Unaudited |
Unaudited |
Unaudited |
Unaudited |
Unaudited |
||||||
Gross profit |
718,100 |
(4,367) |
(1) |
713,733 |
847,895 |
5,017 |
(1) |
852,912 |
|||
Gross margin |
49.7% |
49.4% |
53.8% |
54.2% |
|||||||
Income from operations |
35,372 |
1,890 |
(1) |
37,262 |
14,983 |
20,852 |
(1) |
35,835 |
|||
Operating margin |
2.4% |
2.6% |
1.0% |
2.3% |
|||||||
1,890 |
(1) |
20,852 |
(1) |
||||||||
1,776 |
(2) |
(6,296) |
(2) |
||||||||
Net income attributable to Phoenix New |
80,611 |
3,666 |
84,277 |
37,472 |
14,556 |
52,028 |
|||||
Nett margin |
5.6% |
5.8% |
2.4% |
3.3% |
|||||||
Net income per ADS—diluted |
1.12 |
1.17 |
0.51 |
0.70 |
|||||||
Weighted average number of ADSs used in |
72,129,738 |
72,129,738 |
73,804,238 |
73,804,238 |
|||||||
(1) Share-based compensation |
|||||||||||
(2) Loss/(gain) from equity investments, including impairments |
|||||||||||
Non-GAAP to GAAP reconciling items have no income tax effect |
View original content:http://www.prnewswire.com/news-releases/phoenix-new-media-reports-fourth-quarter-and-fiscal-year-2017-unaudited-financial-results-300612312.html
SOURCE